Rail Vision Q3 Loss Widens

(RTTNews) - Rail Vision Ltd. (RVSN) reported that its third quarter net loss was $2.79 million or $0.93 per share, compared to a net loss of $2.77 million or $1.39 per ordinary share, in the three months ended September 30, 2022.

Research and development expenses increased to $1.85 million from $1.65 million in the prior year. The increase in R&D expenses was primarily attributable to an increase in R&D employees and an increase in R&D equipment purchases.

As of September 30, 2023, cash, cash equivalents and restricted cash were $5.1 million.

Revenues for the third quarter declined to $142,000 from $202,000 last year.

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